Carrier Global (NYSE:CARR) Updates FY24 Earnings Guidance

Carrier Global (NYSE:CARR) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.80-2.90 for the period, compared to the consensus earnings per share estimate of $2.82. The company issued revenue guidance of ~$26.0 billion, compared to the consensus revenue estimate of $26.36 billion. Carrier Global also updated its FY 2024 guidance to 2.800-2.900 EPS.

Analysts Set New Price Targets

A number of brokerages have issued reports on CARR. Citigroup increased their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Royal Bank of Canada reduced their price target on shares of Carrier Global from $63.00 to $60.00 and set an outperform rating on the stock in a research report on Wednesday, February 7th. Barclays increased their price target on shares of Carrier Global from $78.00 to $79.00 and gave the stock an overweight rating in a research report on Friday. Oppenheimer increased their price target on shares of Carrier Global from $63.00 to $64.00 and gave the stock an outperform rating in a research report on Friday. Finally, Wells Fargo & Company increased their price target on shares of Carrier Global from $59.00 to $66.00 and gave the stock an equal weight rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $62.00.

Carrier Global Stock Up 1.2 %

NYSE:CARR traded up $0.69 during trading hours on Friday, reaching $60.50. The company had a trading volume of 6,684,176 shares, compared to its average volume of 4,318,700. The company has a quick ratio of 2.40, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. The firm has a market cap of $54.46 billion, a price-to-earnings ratio of 42.31, a P/E/G ratio of 2.50 and a beta of 1.39. The business’s 50-day simple moving average is $56.54 and its two-hundred day simple moving average is $54.83. Carrier Global has a twelve month low of $40.28 and a twelve month high of $60.87.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. The business had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. On average, equities analysts expect that Carrier Global will post 2.84 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio is currently 53.15%.

Insider Activity

In related news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the sale, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

Carrier Global Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.